nd and puilding. the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed -1B The Italian Pizza Company purchased land as a factory site for $90,000. Prior to construction of the new Ihelow: Land clearing costs $ 5,000 Sale of firewood to a worker (400) Architect fees (for new building) 30,000 Title investigation of land 3,500 Property taxes on land (for the first year) 3,000 Building construction costs 400,000 1. Calculate amount capitalized to land and record the journal entry.

nd and puilding. the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed -1B The Italian Pizza Company purchased land as a factory site for $90,000. Prior to construction of the new Ihelow: Land clearing costs $ 5,000 Sale of firewood to a worker (400) Architect fees (for new building) 30,000 Title investigation of land 3,500 Property taxes on land (for the first year) 3,000 Building construction costs 400,000 1. Calculate amount capitalized to land and record the journal entry.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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